New Fruit and Vegetables Contract Farming Agreement between Piraeus Bank and “Rigas S.A.”

Piraeus Bank, in collaboration with “Rigas S.A.”, has initiated a new Contract Farming program intended for fruit and vegetable growers in the Prefecture of Lasithi.

The funding proposal for fruit and vegetables Contract Farming is essentially intended to help rationalize the organization and financially support the entire production process, from the producer to product processing and selling by the above company.

Rigas S.A.” is active in the standardization-packaging and trading of tomatoes, cucumber, pepper, zucchini and eggplant.

The company has a state of the art plant in the region “Pahia Ammos” in Ierapetra and its client list includes top chains in Greece like “AB Vasilopoulos”, «Lidl Hellas» & “Masoutis”. At the same time, it is significantly active in exports to various European countries like Germany, Austria, Slovakia, Serbia, Czech Republic, Rumania and Bulgaria.

Through the Piraeus Bank Contract Farming Program, the producer is provided with the required liquidity at highly competitive terms, exactly when he needs such liquidity, while payment of the production agreed to be delivered to the company is guaranteed.

The Program covers the entire crops production and supply chain by supporting, in an organized manner the mutually beneficial collaboration between producers and the company.

This new collaboration attests to the firm will of Piraeus Bank to support and encourage any sound productive effort in the economy sector.

Athens, July 16th 2014